Asset Intelligence and Management

Asset Intelligence and Management

EZRentOut Blogs Tracking Work Order Costs Effectively With Ezrentout

Track Work Order Costs with EZRentOut

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Work orders help in assigning tasks to be performed, specifying completion dates and other necessary instructions. Even though this benefits in assessing the performances of employees, it is also important to track Work Order Costs. This can help businesses flexibly calculate a particular cost incurred for each task. Managing multiple work order costs accurately can result in overall efficiency for your business. 

Automate your work order costs with EZRentOut. Let’s have a look at how you can implement this feature:

Step 1: Enable Work Order Costs

In order to enable, please go to Settings → Add Ons → Work Orders

Once Work Orders are enabled, you can select track cost of inventory consumed and track cost of work for all Work Orders. You can also choose to hide Work Order costs from staff users. 

Step 2: Costing method

To track cost of inventory consumed, you will have to select a costing method for your assets. For this, go to Company Settings → Valuation & Costing Methods for items

Note: If you’ve selected a costing method for a Work Order, it will not be updated after creation of that Work Order, even if you change the settings. The new costing method will be applied to all new Work Orders created after updating costing method settings.

Step 3: Create a Work Order

You can create a Work Order by selecting Navigation Menu → Work Orders  → Add Work Order

When creating a Work Order, there are two types of Work Order you can choose from, i.e.: Maintenance and General. Read more about Work Orders here

3.1 Maintenance Work Order Costs

When you’re creating maintenance work order costs, you need to add assets that need maintenance and you can also link an inventory which will be consumed for the maintenance of the asset. Once you’ve created a Work Order, you can start it from the top right corner of the page.

The details of Work Order will appear as below:

There are four types of costs that can be displayed for a maintenance Work Order. 

  1. Base Cost  is added while creating the Work Order. 
  2. Consumed Inventory is incurred by consumption of inventory in the Work Order. 
  3. Cost of Work is associated with the number of labor hours. 
  4. Service cost is the cost of item service associated with the Work Order.

The items option shows the asset available for maintenance:

You can add a service cost to your assets by clicking on the Asset under the items tab and complete its service session. 

Once you click complete service, the following overlay will ask you to add service cost and any inventory consumed with the asset. 

You can also choose to edit service costs of your assets. For this, please go to Company Settings → Service Edit and Deletion. 

Once these settings are enabled, you can go to the Asset detail page and click services to edit service costs. 

In order to know the number of work hours spent on a Work order, you can add Work log to your Work Order

You can select date and time utilized for each Work Order. Here’s how it appears in EZRentOut:

Finally, the details tabs of Work Order will show all costs added

The linked inventory with your assets will be shown under linked inventory tab of Work Order

3.2 General Work Order Costs

The General Work Order Cost only displays two cost compared to Maintenance Work Order Cost

Step 4: Work Order Cost Listing

You can view Work Orders as you like it. You can go to the Navigation Menu → Work Orders. From here click the Edit button.

An overlay below will let you fill required columns for the listing page. You can enter any types of costs you want to display

Step 5: Work Order Cost Print Template

You can also communicate Work Order information to your customers/employees through a Print Template. For this, go to Navigation Menu → Printout Templates.

Here is how your design print template will look:

In order to see how this design is translated into print template, you can go to Work Order details page and Select “Print Work Order” under More tab on the right corner of the page

Here’s a layout of a Work Order Printout. It shows all costs as listed on the details page.

Step 6: Work Order Cost Report

Work Order Reports display name, assignee, status of work, time spent and relevant costs incurred to complete work orders. It also provides a total cost column for better analysis. To create one, go to Navigation Menu, go to Reports and Run the Work Orders Report.The report will be viewed as follows:

Another report for Linked Inventory shows cost associated with relevant Work Orders.It also displays Work cost column to show labor cost of a Work Order

Note: This column will only be visible if you have enabled track cost of consumed inventory

Step 7: Work Order Dashboard KPIs

For a quick view over Work order status, you can add a Dashboard widget for Total Cost of Completed Work Orders or Total Cost of In Progress Work Orders within a set time range

About EZRentOut

EZRentOut, a cloud-based equipment rental software can help. EZRentOut offers companies in numerous industries seamless rental management along with a host of other features. You can integrate your website with our EZR plug to keep track of all your rental Assets and operations.

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